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A reported blog on happenings around Latin America.

Capital flight plagues Argentina

Capital flight out of Argentina could exceed $22 billion this year.
Argentina capital flight dollars 2011 10 11Enlarge
(Mark Wilson/Getty Images)

Argentina's main challenge in the face of a global financial crisis is to reduce capital flight out of the country, says a new report.

The consulting firm Ecolatina estimates that capital flow out of Argentina will exceed $22 billion this year, reports La Nacion.

Reducing the outflow of capital would significantly alleviate the worst affects of the crisis, said a report by Ecolatina, which was founded by former Argentine Economy Minister Roberto Lavagna.

Slowing capital flight is the country's largest source of potential funding, said the report.

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http://www.globalpost.com/dispatches/globalpost-blogs/que-pasa/capital-flight-plagues-argentina